Friday, February 3, 2017

Coca-Cola to invest $200 million on two new beverage plants in Pakistan

(WebDesk) Atilla Yerlikaya, GM, Group Director Public Affairs and Chairman of Pakistan-Turkey Business Council, Coca Cola Beverages Pakistan Limited, along with a 3-member delegation, visited Board of Investment and met with MOS/Chairman, Board of Investment to discuss different investment opportunities available in Pakistan.

The MOS/Chairman, BOI welcomed the Coca-Cola delegation and informed them that Pakistan has one of the most liberal foreign investment regimes in South Asia. 100% foreign equity is permitted in the manufacturing and infrastructure sectors of the economy as the country has a more market-oriented economy, with a rapidly growing private sector.

Mr. Atilla Yerlikaya, GM, Coca-Cola Company thanked BOI for cooperation and facilitation and informed about the company’s future investment plans for establishing of two new plants in Faisalabad and Islamabad.

The Company has already invested $500 million during this year on the upgradation of the existing plants in the country. He added that Coca-Cola is a leading US investor in Pakistan. Coca-Cola is presently contemplating a further $200 million of green field investment, and expand Coca-Cola’s production and distribution capacity in Pakistan. He further informed that Coca-Cola intends to preferably establish their units at Special Economic Zones (SEZ) in Pakistan.

Mr. Atilla Yerlikaya, has also requested BOI for support on rationalization of tax regime in Pakistan and to curb the infringement, as some groups are violating industrial property rights and this practice is not only defaming original brands but reducing the revenue for the country. Government of Pakistan may ensure operation of legitimate companies and take steps to provide a level playing field to genuine investors

Dr. Miftah Ismail, MOS/Chairman, BOI said that the board will extend full support to Coca Cola and advised them to establish one unit in Faisalabad at SEZ, M.III, which was agreed by Coca Cola. The MOS/Chairman, BOI also assured them to assist for their second unit at SEZ, Islamabad when it is finalized.

At the end, Dr. Miftah Ismail thanked Mr. Atilla Yerlikaya & his delegation and appreciated their efforts and intentions with regards to boost new investment and economic relations between the two friendly countries.